Equal payment vs equal principal?

Equal payment keeps the monthly amount constant; equal principal has a higher early payment but lower total interest.

What rate and term does this assume?

This page assumes 4.0% over 30 years (360 months), equal payment. Change the rate and term in the calculator.

Does early repayment reduce interest?

Yes — repaying principal early reduces the remaining interest, though early-repayment fees may apply.

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₩650,000,000 Loan Interest (4% / 30yr) - Toolkit

For a ₩650,000,000 loan at 4% over 30 years (equal payment), the monthly payment is about ₩3,103,199 and total interest about ₩467,151,640.

2026Equal-payment (amortizing) formula

Loan principal

Annual rate (%)

Loan term (months)

Grace period (months, optional)

Monthly payment (first month)3,103,199

Total payments1,117,151,640

Total interest467,151,640

Interest calculationShow steps

Total interest467,151,640

Total payments − principal

= 1,117,151,640 − 650,000,000

Repayment schedule (first 12 payments)

No.	Payment	Principal	Interest	Balance
1	3,103,199	936,532	2,166,667	649,063,468
2	3,103,199	939,654	2,163,545	648,123,814
3	3,103,199	942,786	2,160,413	647,181,028
4	3,103,199	945,929	2,157,270	646,235,099
5	3,103,199	949,082	2,154,117	645,286,017
6	3,103,199	952,246	2,150,953	644,333,771
7	3,103,199	955,420	2,147,779	643,378,351
8	3,103,199	958,604	2,144,595	642,419,747
9	3,103,199	961,800	2,141,399	641,457,947
10	3,103,199	965,006	2,138,193	640,492,941
11	3,103,199	968,223	2,134,976	639,524,718
12	3,103,199	971,450	2,131,749	638,553,268

Showing only the first 12 payments of the full term.

How it's calculated & notes

·With equal-payment repayment the monthly amount stays constant; with equal-principal repayment the principal portion is constant, so interest gradually decreases.
·During the grace period you pay interest only and the principal stays unchanged; after it ends, the principal is repaid over the remaining term. A longer grace period increases total interest.
·Actual loans may differ in total interest depending on prepayment fees, variable rates, and day-count conventions.
·This calculator provides an estimate assuming a fixed rate and equal monthly repayment.

Repayment Analysis for a ₩650,000,000 Loan

Borrowing ₩650,000,000 at 4% for 30 years (equal payment) gives a monthly payment of about ₩3,103,199, total interest of about ₩467,151,640, and total repayment of about ₩1,117,151,640.

Repayment summary

Monthly payment: ₩3,103,199
Total interest: ₩467,151,640
Total repayment: ₩1,117,151,640

What is the loan interest calculator?

The loan interest calculator computes the monthly payment and total interest from the principal, annual rate, and term. Equal payment keeps the monthly amount constant; equal principal repays a fixed principal each month, with a higher early burden but less total interest. This page assumes {rate}% over {years} years.

Repayment methods

Equal payment: same monthly amount
Equal principal: same principal, declining interest
Rate and term greatly affect total interest

View the full loan interest table →

Frequently Asked Questions

Equal payment vs equal principal?: Equal payment keeps the monthly amount constant; equal principal has a higher early payment but lower total interest.
What rate and term does this assume?: This page assumes 4.0% over 30 years (360 months), equal payment. Change the rate and term in the calculator.
Does early repayment reduce interest?: Yes — repaying principal early reduces the remaining interest, though early-repayment fees may apply.

Last updated: July 2026 · Sources: 한국은행